SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 26, 1998
AMRESCO Residential Securities Corporation on behalf of:
AMRESCO Residential Securities Corporation Mortgage Loan Trust
1998-2
(Exact name of registrant as specified in its charter)
New York 333-30759-7 Application Pending
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Norwest Bank Minnesota,
National Association
Sixth Street and Marquette Avenue
Minneapolis, MN 55479-1026
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (612) 667-8058
No Change
(Former name or former address, if changed since last report)
Item 5. Other Events.
Information relating to the distributions to
Certificateholders for the period from September 1, 1998 to
September 30, 1998 (the "Monthly Period") of the AMRESCO
Residential Securities Corporation Mortgage Loan Trust 1998-2
(the "Registrant" or "Trust") in respect of the Mortgage Loan
Asset Backed Certificates, Series 1998-2, Class A (the
"Certificates") issued by the Registrant and the performance of
the Trust (including distributions of principal and interest,
delinquent balances of mortgage loans, and the subordinated
amount remaining), together with certain other information
relating to the Certificates, is contained in the Monthly Report
for the Monthly Period provided to Certificateholders pursuant to
the Pooling and Servicing Agreement dated as of June 1, 1998,
among AMRESCO Residential Securities Corporation in its capacity
as Depositor, AMRESCO Residential Capital Markets, Inc. in its
capacity as the Seller and Master Servicer, Advanta Mortgage
Corp. USA, Ameriquest Mortgage Company and Wendover Financial
Services Corporation as the Servicers and Norwest Bank Minnesota,
National Association, in its capacity as the trustee.
Item 7. Exhibit.
Monthly Report for the Monthly Period relating to the
Certificates issued by the Trust.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
By: AMRESCO Residential Securities Corporation
Mortgage Loan Trust 1998-2
By: /s/Ron B. Kirkland
Name: Ron B. Kirkland
Title: Vice President and
Chief Accounting Officer
Dated: November 5, 1998
<TABLE>
<CAPTION>
AMRESCO Residential Securities Corporation Contact: Customer Service Columbia, MD
Mortgage Pass-Through Certificates Norwest Bank Minnesota, N.A.
Record Date: 30-Sep-1998 Securities Administration Services
Distribution Date: 26-Oct-1998 11000 Broken Land Parkway
Columbia, MD 21044
AMRESCO Series 1998-2 Telephone: (301) 815-6600
Fax: (401) 884-2369
Certificate Holder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
CLASS CUSIP Description Rate Balance Distribution Distribution
Current Ending Cumulative
Realized Certificate Total Realized
Loss Balance Distribution Losses
<S> <C> <C> <C> <C> <C> <C>
A-1 03215PEL9 SEQ 6.50000% 102,804,392.85 556,857.13 4,292,401.86
0.00 98,511,990.99 4,849,258.99 0.00
A-2 03215PEM7 SEQ 6.24500% 61,000,000.00 317,454.17 0.00
0.00 61,000,000.00 317,454.17 0.00
A-3 03215PEN5 SEQ 6.31500% 36,000,000.00 189,450.00 0.00
0.00 36,000,000.00 189,450.00 0.00
A-4 03215PEP0 SEQ 6.44500% 37,000,000.00 198,720.83 0.00
0.00 37,000,000.00 198,720.83 0.00
A-5 03215PEQ8 SEQ 6.80000% 16,000,000.00 90,666.67 0.00
0.00 16,000,000.00 90,666.67 0.00
A-6 03215PER6 SEQ 6.40500% 35,000,000.00 186,812.50 0.00
0.00 35,000,000.00 186,812.50 0.00
A-7 03215PEV7 SEQ 5.63375% 120,912,088.59 586,578.97 8,126,786.09
0.00 112,785,302.50 8,713,365.06 0.00
A-8 03215PEW5 SEQ 5.74875% 347,412,088.59 1,719,798.40 8,126,786.09
0.00 339,285,302.50 9,846,584.49 0.00
M-1F 03215PES4 SUB 6.74500% 19,250,000.00 108,201.04 0.00
0.00 19,250,000.00 108,201.04 0.00
M-1A 03215PEX3 SUB 5.92375% 52,000,000.00 265,252.36 0.00
0.00 52,000,000.00 265,252.36 0.00
M-2F 03215PET2 SUB 7.04000% 15,750,000.00 92,400.00 0.00
0.00 15,750,000.00 92,400.00 0.00
M-2A 03215PEY1 SUB 6.14375% 39,000,000.00 206,327.60 0.00
0.00 39,000,000.00 206,327.60 0.00
B-1F 03215PEU9 SUB 7.71500% 14,000,000.00 90,008.33 0.00
0.00 14,000,000.00 90,008.33 0.00
B-1A 03215PEZ8 SUB 6.74375% 32,500,000.00 188,731.34 0.00
0.00 32,500,000.00 188,731.34 0.00
C-FIO ARS98CFIO IO 15.00000% 0.00 437,500.00 0.00
0.00 0.00 437,500.00 0.00
C-AIO ARS98CAIO IO 6.82000% 0.00 419,903.61 0.00
0.00 0.00 419,903.61 0.00
D ARS98002D IO 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
S ARS98002S IO 0.10000% 0.00 41,504.75 0.00
0.00 0.00 41,504.75 0.00
R ARS98002R R 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00 0.00
RL ARS9802RL R 0.00000% 0.00 0.00 0.00
0.00 0.00 0.00
TOTALS 928,628,570.03 5,696,167.70 20,545,974.04
0.00 908,082,595.99 26,242,141.74 0.00
All Distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
CLASS Amount Balance Distribution Distribution Accretion Loss (1)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 116,000,000.00 102,804,392.85 272,698.88 4,019,702.98 0.00 0.00
4,292,401.86 98,511,990.99 0.84924130 4,292,401.86
A-2 61,000,000.00 61,000,000.00 0.00 0.00 0.00 0.00
0.00 61,000,000.00 1.00000000 0.00
A-3 36,000,000.00 36,000,000.00 0.00 0.00 0.00 0.00
0.00 36,000,000.00 1.00000000 0.00
A-4 37,000,000.00 37,000,000.00 0.00 0.00 0.00 0.00
0.00 37,000,000.00 1.00000000 0.00
A-5 16,000,000.00 16,000,000.00 0.00 0.00 0.00 0.00
0.00 16,000,000.00 1.00000000 0.00
A-6 35,000,000.00 35,000,000.00 0.00 0.00 0.00 0.00
0.00 35,000,000.00 1.00000000 0.00
A-7 150,000,000.00 120,912,088.59 186,896.13 7,939,889.96 0.00 0.00
8,126,786.09 112,785,302.50 0.75190202 8,126,786.09
A-8 376,500,000.00 347,412,088.59 186,896.13 7,939,889.96 0.00 0.00
8,126,786.09 339,285,302.50 0.90115618 8,126,786.09
M-1F 19,250,000.00 19,250,000.00 0.00 0.00 0.00 0.00
0.00 19,250,000.00 1.00000000 0.00
M-1A 52,000,000.00 52,000,000.00 0.00 0.00 0.00 0.00
0.00 52,000,000.00 1.00000000 0.00
M-2F 15,750,000.00 15,750,000.00 0.00 0.00 0.00 0.00
0.00 15,750,000.00 1.00000000 0.00
M-2A 39,000,000.00 39,000,000.00 0.00 0.00 0.00 0.00
0.00 39,000,000.00 1.00000000 0.00
B-1F 14,000,000.00 14,000,000.00 0.00 0.00 0.00 0.00
0.00 14,000,000.00 1.00000000 0.00
B-1A 32,500,000.00 32,500,000.00 0.00 0.00 0.00 0.00
0.00 32,500,000.00 1.00000000 0.00
C-FIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
C-AIO 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
D 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
S 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
RL 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00000000 0.00
TOTALS 1,000,000,000.00 928,628,570.03 646,491.14 19,899,482.90 0.00 0.00
20,545,974.04 908,082,595.99 0.90808260 20,545,974.04
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Class (2) Face Certificate Principal Principal Realized
Amount Balance Distribution Distribution Accretion Loss (3)
Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
A-1 116,000,000.00 886.24476595 2.35085241 34.65261190 0.00000000 0.00000000
37.00346431 849.24130164 0.84924130 37.00346431
A-2 61,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-3 36,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-4 37,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-5 16,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-6 35,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
A-7 150,000,000.00 806.08059060 1.24597420 52.93259973 0.00000000 0.00000000
54.17857393 751.90201667 0.75190202 54.17857393
A-8 376,500,000.00 922.74127116 0.49640406 21.08868515 0.00000000 0.00000000
21.58508922 901.15618194 0.90115618 21.58508922
M-1F 19,250,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-1A 52,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-2F 15,750,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
M-2A 39,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1F 14,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
B-1A 32,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 1000.00000000 1.00000000 0.00000000
C-FIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
C-AIO 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
D 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
S 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
RL 0.00 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000 0.00000000
(2) All Denominations are Per $1000
(3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed, Please
Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
CLASS Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (4)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 116,000,000.00 6.50000% 102,804,392.85 556,857.13 0.00 0.00 0.00 0.00
556,857.13 0.00 98,511,990.99
A-2 61,000,000.00 6.24500% 61,000,000.00 317,454.17 0.00 0.00 0.00 0.00
317,454.17 0.00 61,000,000.00
A-3 36,000,000.00 6.31500% 36,000,000.00 189,450.00 0.00 0.00 0.00 0.00
189,450.00 0.00 36,000,000.00
A-4 37,000,000.00 6.44500% 37,000,000.00 198,720.83 0.00 0.00 0.00 0.00
198,720.83 0.00 37,000,000.00
A-5 16,000,000.00 6.80000% 16,000,000.00 90,666.67 0.00 0.00 0.00 0.00
90,666.67 0.00 16,000,000.00
A-6 35,000,000.00 6.40500% 35,000,000.00 186,812.50 0.00 0.00 0.00 0.00
186,812.50 0.00 35,000,000.00
A-7 150,000,000.00 5.63375% 120,912,088.59 586,578.97 0.00 0.00 0.00 0.00
586,578.97 0.00 112,785,302.50
A-8 376,500,000.00 5.74875% 347,412,088.59 1,719,798.40 0.00 0.00 0.00 0.00
1,719,798.40 0.00 339,285,302.50
M-1F 19,250,000.00 6.74500% 19,250,000.00 108,201.04 0.00 0.00 0.00 0.00
108,201.04 0.00 19,250,000.00
M-1A 52,000,000.00 5.92375% 52,000,000.00 265,252.36 0.00 0.00 0.00 0.00
265,252.36 0.00 52,000,000.00
M-2F 15,750,000.00 7.04000% 15,750,000.00 92,400.00 0.00 0.00 0.00 0.00
92,400.00 0.00 15,750,000.00
M-2A 39,000,000.00 6.14375% 39,000,000.00 206,327.60 0.00 0.00 0.00 0.00
206,327.60 0.00 39,000,000.00
B-1F 14,000,000.00 7.71500% 14,000,000.00 90,008.33 0.00 0.00 0.00 0.00
90,008.33 0.00 14,000,000.00
B-1A 32,500,000.00 6.74375% 32,500,000.00 188,731.34 0.00 0.00 0.00 0.00
188,731.34 0.00 32,500,000.00
C-FIO 0.00 15.00000% 35,000,000.00 437,500.00 0.00 0.00 0.00 0.00
437,500.00 0.00 35,000,000.00
C-AIO 0.00 6.82000% 71,500,000.00 419,903.61 0.00 0.00 0.00 0.00
419,903.61 0.00 71,500,000.00
D 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
S 0.00 0.10000% 503,587,056.47 41,504.75 0.00 0.00 0.00 0.00
41,504.75 0.00 497,622,126.19
R 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
RL 0.00 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00
Totals 1,000,000,000.00 5,696,167.70 0.00 0.00 0.00 0.00
5,696,167.70 0.00
(4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
Interest Distribution Factors Statement
Beginning Payment of Non
Original Current Certificate Current Unpaid Current Supported
Face Certificate Notional Accrued Interest Interest Interest Realized
CLASS(5) Amount Rate Balance Interest Shortfall Shortfall Shortfall Losses (6)
Total Remaining Ending
Interest Unpaid Certificate/
Distribution Interest Notional
Shortfall Balance
A-1 116,000,000.00 6.50000% 886.24476595 4.80049250 0.00000000 0.00000000 0.00000000 0.00000000
4.80049250 0.00000000 849.24130164
A-2 61,000,000.00 6.24500% 1000.00000000 5.20416672 0.00000000 0.00000000 0.00000000 0.00000000
5.20416672 0.00000000 1000.00000000
A-3 36,000,000.00 6.31500% 1000.00000000 5.26250000 0.00000000 0.00000000 0.00000000 0.00000000
5.26250000 0.00000000 1000.00000000
A-4 37,000,000.00 6.44500% 1000.00000000 5.37083324 0.00000000 0.00000000 0.00000000 0.00000000
5.37083324 0.00000000 1000.00000000
A-5 16,000,000.00 6.80000% 1000.00000000 5.66666688 0.00000000 0.00000000 0.00000000 0.00000000
5.66666688 0.00000000 1000.00000000
A-6 35,000,000.00 6.40500% 1000.00000000 5.33750000 0.00000000 0.00000000 0.00000000 0.00000000
5.33750000 0.00000000 1000.00000000
A-7 150,000,000.00 5.63375% 806.08059060 3.91052647 0.00000000 0.00000000 0.00000000 0.00000000
3.91052647 0.00000000 751.90201667
A-8 376,500,000.00 5.74875% 922.74127116 4.56785764 0.00000000 0.00000000 0.00000000 0.00000000
4.56785764 0.00000000 901.15618194
M-1F 19,250,000.00 6.74500% 1000.00000000 5.62083325 0.00000000 0.00000000 0.00000000 0.00000000
5.62083325 0.00000000 1000.00000000
M-1A 52,000,000.00 5.92375% 1000.00000000 5.10100692 0.0000000 0.00000000 0.00000000 0.00000000
5.10100692 0.00000000 1000.00000000
M-2F 15,750,000.00 7.04000% 1000.00000000 5.86666667 0.00000000 0.00000000 0.00000000 0.00000000
5.86666667 0.00000000 1000.00000000
M-2A 39,000,000.00 6.14375% 1000.00000000 5.29045128 0.00000000 0.00000000 0.00000000 0.00000000
5.29045128 0.00000000 1000.00000000
B-1F 14,000,000.00 7.71500% 1000.00000000 6.42916643 0.00000000 0.00000000 0.00000000 0.00000000
6.42916643 0.00000000 1000.00000000
B-1A 32,500,000.00 6.74375% 1000.00000000 5.80711815 0.00000000 0.00000000 0.00000000 0.00000000
5.80711815 0.00000000 1000.00000000
C-FIO 0.00 15.00000% 1000.00000000 12.50000000 0.00000000 0.00000000 0.00000000 0.00000000
12.50000000 0.00000000 1000.00000000
C-AIO 0.00 6.82000% 1000.00000000 5.87277776 0.00000000 0.00000000 0.00000000 0.00000000
5.87277776 0.00000000 1000.00000000
D 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
S 0.00 0.10000% 1003.36299809 0.08269539 0.00000000 0.00000000 0.00000000 0.00000000
0.08269539 0.00000000 991.47827974
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
RL 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
0.00000000 0.00000000 0.00000000
(5) All Denominations are Per $1000
(6) Amount Does Not Include Excess Special Hazard, Bankruptcy, or
Fraud Losses Unless Otherwise Disclosed. Please Refer to the
Prospectus Supplement for a Full Description.
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
Certificate account
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 26,104,017.80
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 526,181.13
Realized Losses (26,004.46)
Total Deposits 26,604,194.47
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 362,052.99
Payment of Interest and Principal 26,242,141.48
Total Withdrawals (Pool Distribution Amount) 26,604,194.47
Ending Balance 0.00
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 346,505.90
Trustee Fee 0.00
Master Servicing Fee 15,547.09
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fee 362,052.99
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Delinquency/Credit Enhancement Statement
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid Number Unpaid
Number Principal Of Loans Balance
Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 245 18,410,956.60 2.332001% 2.014176%
60 Days 230 18,580,710.93 2.189225% 2.032747%
90+ Days 71 6,400,302.90 0.675804% 0.700199%
Foreclosure 165 12,281,687.64 1.570531% 1.343628%
REO 3 189,137.92 0.028555% 0.020692%
Totals 714 55,862,795.99 6.796117% 6.111441%
Current Period Realized Loss-Includes Interest Shortfall 0.00
Cumulative Realized Losses-Includes Interest Shortfall 26,004.46
Current Period Class A Insufficient Funds
Principal Balance of Contaminated Properties 0.00
Periodic Advance 526,181.13
COLLATERAL STATEMENT
Collateral Description Fixed Mixed & 6 Month LIBOR
Weighted Average Gross Coupon 10.080659%
Weighted Average Net Coupon 9.634927%
Weighted Average Pass-Through Rate 9.614927%
Weighted Average Maturity (Stepdown Calculation) 335
Beginning Scheduled Collateral Loan Count 10,704
Number of Loans Paid in Full 198
Ending Scheduled Collateral Loan Count 10,506
Beginning Scheduled Collateral Balance 932,862,772.17
Ending Scheduled Collateral Balance 914,069,132.52
Ending Actual Collateral Balance at 30-Sep-1998 914,713,470.42
Monthly P&I Constant 8,453,051.06
Ending Scheduled Balance for Premium Loans 907,184,415.95
Scheduled Principal 616,491.14
Unscheduled Principal 18,177,148.51
Current Period Realized Loss - Pool 26,004.46
Group ID 1 2
Collateral Description Mixed Fixed 6 Month LIBOR Arm
Weighted Average Coupon Rate 9.814243 10.231939
Weighted Average Net Rate 9.376231 9.750466
Weighted Average Maturity 325.00 340.00
Record Date 09/30/98 09/30/98
Principal And Interest Constant 3,035,903.39 5,417,147.67
Beginning Loan Count 4,109 6,595
Loans Paid In Full 47 151
Ending Loan Count 4,062 6,444
Beginning Scheduled Balance 337,860,526.76 595,002,245.41
Ending Scheduled Balance 333,891,246.70 580,177,885.82
Scheduled Principal 272,698.88 343,792.26
Unscheduled Principal 3,696,581.18 14,480,567.33
Scheduled Interest 2,763,204.51 5,073,355.41
Servicing Fee 117,691.50 228,814.40
Master Servicing Fee 4,927.14 8,677.08
Trustee Fee 0.00 0.00
FRY Amount 0.00 0.00
Special Hazard Fee 0.00 0.00
Other Fee 703.87 1,239.64
Pool Insurance Fee 0.00 0.00
Spread 1 0.00 0.00
Spread 2 0.00 0.00
Spread 3 0.00 0.00
Net Interest 2,639,882.00 4,834,624.29
Realized Loss Amount 26,004.46 0.00
Cummulative Realized Loss 26,004.46 0.00
1 2
Required Overcollateralization Amount 0.00 0.00
Overcollateralization Increase Amount 0.00 0.00
Overcollateralization Reduction Amount 0.00 0.00
Specified Overcollateralization Amount 6,125,000.00 15,600,000.00
Overcollateralization Amount 1,378,971.61 4,607,031.97
Overcollateralization Deficiency Amount 4,746,028.39 10,992,968.03
Base Overcollateralization Amount 0.00 0.00
Extra Principal Distribution Amount 323,121.80 1,429,212.59
Excess Cash Amount 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Deliquency Status By Group
<S> <C> <C> <C> <C> <C> <C>
Group 30 Day 60 Day 90 + Day Foreclosure REO Bankruptcy
1 Principal Balance 6,073,077.44 9,396,002.59 1,411,052.10 964,181.52 45,950.20 99,293.32
Percentage Of Balance 1.819% 2.814% 0.423% 0.289% 0.014% 0.030%
Loan Count 82 124 24 12 1 2
Percentage Of Loan Count 2.019% 3.053% 0.591% 0.295% 0.025% 0.049%
2 Principal Balance 12,337,879.16 9,184,708.34 4,989,250.80 11,317,506.12 143,187.72 4,011,379.33
Percentage Of Balance 2.127% 1.583% 0.860% 1.951% 0.025% 0.691%
Loan Count 163 106 47 153 2 43
Percentage Of Loan Count 2.529% 1.645% 0.729% 2.374% 0.031% 0.667%
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